Trade cautiously!
Every time the BTC Retraces, it falls above +0.768; +0.5; +0618 FIB Respectively. Can we spect a fall to +0.5 fib minimun? Just playing a little. Greets!
this is my first attempt at analysis, some feedback would be great.
The pair isnt giving us much to play with on the lower TF's but anticipating a flag break up north. A break of support would invalidate this idea.
PROS - Low test candle formation. - Rejection of both horizontal support and a downward sloping trendline. - Price sat between 0.5 & 0.618 Fib retracement. - Bullish MACD Divergence - Oversold on Stoch RSI CONS - Trading against the trend. - Trading towards key EMA's. Thoughts on this position?
Not so much a trade strategy by itself, but perhaps a useful tool to compliment a trade system or to be used as a trade entry filter.
Very clear H1 bearish double top formed, perfect setup for a 2618 trade to the downside. The only trade management that the 2618 requires is when price reaches TP1, we close half the position for profit and move our stop loss to breakeven. Otherwise we have our entries and exits in place and just let it run. Entry - 1.33210 Stop - 1.33831 TP1 - 1.32510 TP2 -...
Plain and simple 2618 setup. Stops below 123. Target 1 at 123.750, take half off and lock in Breakeven. Target 2 at 123.970.
AUDUSD HAS BEEN FORMING A MONTH-LONG WEDGE, AS WELL AS A DOWNWARD PITCHFORK. AUDUSD IS ABOUT TO INTERACT WITH THE BOTTOM SUPPORT OF THE WEDGE, BOTTOM SUPPORT OF THE PITCHFORK, AS WELL AS HITTING A FIB LINE. IF BOUNCES, LONG, IF BREAKS ALL THREE SUPPORTS, MAJOR WEAKNESS SIGN. CREDIT TO: ICETRADING FOR THE ORIGINAL PITCHFORK CONCEPT.
The Yen has been building in strength through the summer. Here price has entered in to a small range(within a larger downtrend), with price being rejected at the .618 fib retracement and the resistance line, which created a confluence of resistance. Recent candle wicks show rejection at the 101.800 level, so I suspect this retracement may becoming to an end. ...
We are apparently sitting on an older trendline that seems to be still in effect. nibbling off the 23.6% fib line effectively forming an ascending triangle. if you extend this trendline it crosses my 666 target right around the 3x timefib which is based on the uprun marked by blue vertical lines 0 and 1. line 3 is after 3x the amount of time between 0 and 1. The...